Nano Labs has seen a significant surge in its stock after revealing a plan to purchase $1 billion worth of
Binance Coin. Alongside the increase of altcoins Nano, Velodrome, and Lisk, this step puts the firm in the spotlight. Concurrently,
Bitcoin's hashrate has seen a drop of 8%, with Nano Lab's CEO estimating about 400,000 miners are now offline due to situations in China's Xinjiang.
The firm also announced a $50 million purchase of Binance Coin as part of its strategic reserve plan, highlighting its growing involvement in the crypto space. Notably, Nano Labs further expanded its Binance Coin treasury reserve to $90 million and strengthened its bet with a 480K share purchase.
The firm has announced collaborations with
Orbiter Finance for stablecoin service and shown intent to apply for a license for HKD and Offshore RMB Stablecoin Businesses. With these moves, Nano Labs seeks to transform cross-chain stablecoin trading.
Additionally, in an ambitious move, Nano Labs has set its sight on 10% of the Binance Coin (BNB) supply after closing a $500 million deal. The firm has loaded up their BNB War Chest with a significant purchase and plans to create a BNB treasury, boosting the digital reserve to $160 million, indicating they see potential in the coin.
However, on the downside, Nano is expected to be delisted from OKX on June 20th. A $170 million loss in Nano Coin by a cryptocurrency exchange sparked outrage, further fuelling discussions on the coin's stability and reliability.
Nano Coin News Analytics from Wed, 31 Jan 2018 08:00:00 GMT to Tue, 16 Dec 2025 09:15:54 GMT -
Rating 8
- Innovation 2
- Information 7
- Rumor 0
